The Texas Emerging Technology Fund (often abbreviated as TETF or ETF) is a technology investment fund created by legislation in 2005 at the urging of Governor Rick Perry to provide Texas with an unparalleled advantage in the research, development, and commercialization of emerging technologies. The enabling legislation (Texas HB 1765 of the 79th Legislature) launched the ETF with $200 million to help create jobs and develop the economy of Texas. Legislative revisions during the 2007 and 2009 sessions have expanded the total funds under management to approximately $500 million. As of October 2010, the program has given a total of $173 million to 120 companies as well as $161 million to educational institutions. Governor Greg Abbott signed a law ending the Texas Emerging Technology Fund on June 4, 2015. Fund administration Investment Focus The ETF focuses on three main investment areas: Incentives for Commercialization Activities: early-stage technology investment funds designed to assist companies in transforming ideas, concepts, and prototypes into commercial viable products. Research Award Matching: funds create public-private partnerships which leverage the unique strengths of universities, federal government grant programs, and industry. Acquisition of Research Superiority: funds for Texas higher education institutions to recruit the best research talent in the world. ETF's first investments were executed in May 2006. By October 1, 2009, the ETF was the single largest pre-seed investor for emerging technology companies in the entire United States. As of June 6, 2011, the ETF had invested $196M in 132 commercialization investments. Approximately 1/2 of ETF's commercialization investments have been made within the biotechnology and life sciences industry. 2014 has witnessed a slowdown in all three versions of ETF awards at the same time a special Texas House subcommittee explores incentives programs ahead of the 84th Texas regular legislative session. Deal Sourcing The ETF established seven Regional Centers of Innovation and Commercialization (RCICs) to foster technology commercialization throughout the entire state of Texas and act as an efficient deal sourcing mechanism. In addition, a statewide Life Science Regional Center of Innovation and Commercialization also was formed. The RCICs act as the regional agent to identify, evaluate, and submit promising proposals from their respective regions to the ETF Advisory Committee. The ETF Advisory Committee makes recommendations to Trustees who make final decisions on awards. RCICs work closely with applicants in assisting with ETF proposal development, post-proposal debriefings, and commercialization activities. In addition, RCICs are a strong focal point